Silver Bull Resources, Inc. announced today that it has closed its previously announced offering of units. A total of 22,912,500 units were sold at a price of US$0.40 per unit. The Offering was fully subscribed and the agents partially exercised their over-allotment option. Each unit is comprised of one share of common stock of Silver Bull and one-half of one Common Share purchase warrant, with each whole warrant exercisable to purchase one Common Share, at an exercise price of US$0.55, for a period of 18 months from the closing of this Offering. Silver Bull received gross proceeds from the Offering, before deducting commissions to the agents and estimated offering expenses payable by Silver Bull, of approximately US$9.2 million. The remaining US$0.8 million over-allotment option is exercisable by the agents for a period of 30 days following the closing of the Offering.